Why is Netwrk.18 Media falling/rising?

As of 25-Jul, Network 18 Media & Investments Ltd is experiencing a decline in its stock price, currently at Rs 57.86, which represents a decrease of 2.1 or 3.5%. The stock has underperformed its sector by 0.77% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 3.73%. Over the past week, the stock has fallen by 5.43%, and its year-to-date performance shows a significant decline of 18.91%. The company has reported negative results for the last six consecutive quarters, with a net profit after tax of Rs -22.86 crore and a decrease in net sales, which has contributed to a perception of weak long-term fundamental strength. Additionally, the company's high debt levels and negative EBITDA further exacerbate investor concerns, leading to a lack of confidence reflected in the low participation from domestic mutual funds.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has only declined by 0.36% over the past week. While the Sensex has shown a positive year-to-date return of 4.25%, Network 18 Media's substantial drop of 18.91% indicates a significant underperformance relative to the market. The TV Broadcasting & Software Production sector has also seen a decline of 2.67%, suggesting that the challenges faced by Network 18 Media are not isolated but part of a broader trend affecting the industry. Overall, the combination of poor financial results, high debt, and negative investor sentiment has contributed to the stock's downward trajectory.